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Comment by ashryan

12 hours ago

In my NYC neighborhood, we seem to be going through a whole slew of businesses closing shop within the last year and change.

One obvious reason is rent hikes.

But as one of my favorite local bars was closing, one of the staff mentioned that insurance was really starting to kill them.

We don't live in a flood-prone part of NYC, so I'm curious: is insurance for retail space really going up dramatically across the board in NYC, or was this a single, subjective understanding of a situation?

3 comments

ashryan

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jlarocco  12 hours ago

It's possible insurance prices were rising specifically for them - because they had a lot of claims, for example - and not necessarily for everybody.

gainda  12 hours ago

when i hear stories like that i think it's a ripple of effect of paying out for others but then i also recall seeing how much the industry started paying out to political interests after citizens united, too